Characteristics, Causes, Effects, Impact on Society & Punishment of White Collar Crimes

Just like other crimes, white collar crimes are committed every day. Sometimes the perpetrator gets caught and sometimes they get away with it. There are also times when the defendant may be the target of the person that committed the crime and trying to avoid getting caught. There are a variety of state or federal charges when a person is caught engaging in white collar crimes. These charges can be classified as serious felonies.

What are White Collar Crimes?

The term “white collar crime” was coined by Professor Edwin Hardon Sutherland in 1939. He stated that white collar crime is a crime that is committed by a person who is usually in the respectable position in society and often has a high social status based on his or her occupation. Today, white collar crimes include a broad spectrum of criminal behaviors that are usually used to procure financial gain. The crimes are not considered violent in nature and are usually committed by business people, government officials and people in professional positions. The term white collar refers to the job the person has, like they probably wear a suit or clothing that is required by their profession. More and more white collar crimes are committed by using computers and other kinds of technology that allows these criminals to get a hold of confidential financial information.

Types of White Collar Crimes

White collar crimes can vary in complexity, range and severity. Insurance fraud includes automotive, homeowners, medical and Medicaid. Insider trading, securities fraud, hedge fund fraud and stock manipulation involve stocks and bonds. Computer fraud, wire fraud and mail fraud can also be the result of white collar crimes. These crimes also include identity theft, mortgage broker fraud, bribery, embezzlement and tax evasion. All of these crimes are the same in that the end goal is to get some type of financial or economic gain. There are situations where white collar crimes can go undetected for years, and allows the criminals to profit from the illegal methods used for long periods of time. These criminals typically have methods and knowledge to get things done without detection and can perform complex transactions that even law enforcement or regulators have a hard time tracking.

Devastating Effects of White Collar Crimes

There are many people that have the opinion that white collar crimes shouldn’t be punished as harshly as other crimes because they aren’t violent. But these crimes can have severe and long-lasting effects. These crimes can ruin a person’s life by completely draining their life savings. Other times, widespread tactics used can cause hundreds, even thousands of people to lose money they have worked had to earn. Businesses may even have to file for bankruptcy as the result of unscrupulous criminals.

Criminal Defense, Personal Injury, Business Attorneys & More in Greater Las Vegas, Nevada

There are many regulations on state and federal levels that have been put in place to curtail white collar crimes due to the substantial effect they can have. Being under investigation becomes a negative experience for the defendant when they realize the full force and disposal of resources that the federal government can use. Hiring attorneys that are familiar with white collar crimes is imperative to identify the charges and to determine how to effectively defend them. Contact Kajioka & Associated Attorneys at Law today!